I'm 16 years old.
2007-07-26 14:40:47 · 8 answers · asked by zander1331 3 in Business & Finance ➔ Investing
Keep it in the bank, preferably CD's. You are too young to legally invest in mutual funds or stocks. Also, you may want to buy a car or go to college, so keep that money liquid.
2007-07-27 06:42:06 · answer #1 · answered by derobake 4 · 0⤊ 1⤋
What companies do you like? Do you drink Pepsi or Coke? Both are good, profitable companies that are publicly traded. Do you buy your burgers at McDonalds or Wendy's? Do you shop at Target or Wal-Mart? Is your favorite personal computer a Dell, Gateway, HP, or Apple? These are publicly-traded companies that are usually pretty good investments. When you go the library, browse through the likes of Businessweek, Forbes, or Fortune. When they talk about some company's big plans or some CEO's special methods, etc., if you think, "I want to be part of that" then open an account at Scottrade or Sharebuilder and buy some. Investing is a specific term, it means somewhat long-term, so essentially park some of your money there for a year or more and watch it. It will rise and fall, but hopefully rise. These are long-profitable companies so there isn't likely as much fall as rise--but none of them are rockets to make you rich in a couple of weeks. Don't get greedy okay? Pick a company you are comfortable with and patiently watch it.
2007-07-26 22:31:02 · answer #2 · answered by Rabbit 7 · 2⤊ 0⤋
due to my personal experience i say stock or cds. i invested 1000 dollars in exxon 6 years ago, and now its over 30000 dollars, but you dont always get lucky, so go and put your money in a CD a good rate for those are like 4.67APR,there
2007-07-26 21:49:57 · answer #3 · answered by Harrison 2 · 0⤊ 0⤋
If you have a few grand, divide it all up evenly and spend it evenly on shares in different stock companies (Like 50 in Microsoft, 50 in ConocoPhillips) and so on and so forth. Just divide it up evenly per stock.
2007-07-26 23:32:12 · answer #4 · answered by ? 1 · 0⤊ 0⤋
Silver is the most undervalued commodity right now. Look at the silver ETF symbol SLV.
2007-07-26 22:51:16 · answer #5 · answered by Jay Dub 3 · 0⤊ 0⤋
Buy Sony, Microsoft and Nintendo.
2007-07-27 00:06:13 · answer #6 · answered by Anonymous · 0⤊ 1⤋
go to www.vanguard.com and look at the options available. It's a good, user-friendly company.
2007-07-26 21:45:08 · answer #7 · answered by DelK 7 · 0⤊ 0⤋
try getting a cd
2007-07-26 21:50:33 · answer #8 · answered by tilda 4 · 0⤊ 1⤋